2011 Annual Report - Italcementi Group

2011 Annual Report
Presentation 4
General information 15
Annual Report Consolidated Annual Report Directors’ report 150
Extraordinary session Italcementi S.p.A. Annual Report Separate financial statements 239
The reconciliation between the theoretical tax charge and the effective tax charge reflected on the income
statement is set out below:
Ires Irap Total
(in thousands of euro)
Loss before tax (a) ( 17,072) ( 17,072)
Difference in the taxable base between IRES and IRAP (b) 58,221
(c) = (a+/-b) ( 17,072) 41,149
Applicable tax rate (%) (d) 27.50 3.90 31.40
Theoretical tax charge (e) = (d) x (c) ( 4,695) 1,605 ( 3,090)
Tax effect on permanent differences:
(f)
- foreign dividends and other exempt income ( 40,202) ( 552) ( 40,754)
- non-deductible costs 19,682 808 20,490
Net effect for the year of unrecognized deferred taxes on
temporary differences (g) 12,440 40 12,480
Advantage from participation in tax consolidation (h) ( 12,462) - ( 12,462)
Effective tax charge (i) = da (e) a (h) ( 25,237) 1,901 ( 23,336)
Effective tax rate (%) 147.83 4.62 152.45
Other tax items not related to the loss for the year (j) ( 738)
Effective tax charge reflected in income statement
for 2011 (l) = (j) + (j)
( 24,074)
32. Transactions with related parties
Data relating to transactions with related parties and their impact on the company’s financial position and
results of operations are set out in the following tables:
287
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